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Medibank redesigns its private health insurance

Medibank Private has used its leadership position to remove the confusion and uncertainty that currently exists for many Australians with private health insurance.

Driven by the desire to increase value for its members and improve understanding of their health cover, the nation's largest health fund has introduced a new range of hospital and extras policies that better meet consumer needs.

"Over 11 million Australians have private health insurance and many of them find it confusing. Medibank is taking a leadership role in removing the complexity so that Australians can make better choices for themselves and their families," he said.

"We spoke to more than 5,000 customers who told us they wanted better value on the services they use most - dental, optical and physio - so that's what we have done."

The new products provide clear benefits on both hospital and extras services and give members certainty about what they are covered for and how much they get back.

"We have designed these products with input from our members so they are easier to understand and customers know what they are covered for. We have removed confusing features and have changed the names to better reflect the level of cover a customer can expect," Mr Levy said.

"Our hospital covers include Basic, Mid and Top cover while our extras covers allow members to choose how much they get back at Members' Choice providers - 55%, 70%, 85% or even 100% with Ultra Health Cover.

"Medibank has also introduced a special addition to our policy suite - Ultra Health Cover - which is our premium packaged cover. Customers told us that they didn't want unexpected gaps so with Ultra Health Cover we have done everything possible to give our members a gap-free experience. There are many advantages to the Ultra product including getting 100% back on extras services at Members' Choice providers, coverage on the widest range of extras services at Medibank including laser eye surgery, no hospital excess and a bonus to help cover any in-hospital medical gaps.

"To make these changes even better value we are enhancing our Members' Choice network so it now provides members with even greater convenience and savings. For example, Medibank now has arrangements with more optical providers than any other health fund so our members with extras are clearly better off. Whether you require single, bifocal or multifocal lenses, our members can now purchase their glasses without an out-of-pocket cost, irrespective of their level of cover."

The Members' Choice network covers most private hospitals and the widest range of extras services of any health fund, and Members' Choice providers offer low out-of-pockets for members.